Terra Industries Accepts CF Industries' Offer

7:42 AM MST | March 10, 2010 | Kerri Walsh

Terra Industries says it has accepted CF Industries' $47.40/share offer, which was made on March 2. The offer values Terra at about $4.72 billion. Terra has informed Yara International, which offered to buy the company for $41.1/share last month, that it has accepted CF's bid. Terra's board had approved Yara's bid when it was offered. Terra will have to pay Yara a $123-million breakup fee if their deal collapses. Yara has five business days after receiving Terra's notice to make a new offer. "We believe that Terra is...